Mike Spadafore

Current Position

Title: Managing Director Company: Valtruis (Operating Partner at WCAS) Location: Greater Chicago Area

Professional Background

Mike Spadafore is a seasoned healthcare investment and operations executive with nearly 15 years of experience working closely with entrepreneurs and healthcare technology leaders. His career trajectory reflects a deep commitment to value-based care transformation and healthcare system innovation. Spadafore brings both strategic advisory expertise and hands-on venture investing experience, having progressed from management consulting at top-tier firms (PwC, Diamond Management & Technology Consultants) to founding Sandbox Advisors, a healthcare-focused strategy and transaction consulting firm, before taking on leadership roles managing $850M+ in healthcare venture assets.

At Valtruis, Spadafore partners with disruptive healthcare leaders whose mission is to align and transform the U.S. healthcare system through value-based care infrastructure. His investment thesis focuses on companies that automate and scale value-based care capabilities—from real-world evidence generation to actuarial infrastructure—that enable both providers and payers to succeed under risk-based contracting models. He emphasizes building companies that create "sustainable" healthcare solutions combining technology and value-based approaches to improve accessibility and quality care.

Spadafore's professional network and board involvement span the full spectrum of healthcare innovation, from digital therapeutics and addiction treatment platforms to data analytics, patient engagement, and infrastructure modernization. His involvement in multiple acquired companies (Wellframe by HealthEdge, Physera by Omada Health, ID Experts by ZFOX) demonstrates track record in building and scaling successful healthcare technology ventures.

Career Timeline

Education

• Bachelor of Business Administration (BBA), University of Michigan - Stephen M. Ross School of Business

Public Presence

Social Media

Note: Only publicly accessible profiles are documented. His LinkedIn profile shows 5,000+ followers and 500+ connections in the Greater Chicago area.

Published Writings

• No formal published articles, blog posts, or bylined pieces identified in public sources
• Primary communication through LinkedIn posts and professional statements

Public Speaking

• Faculty affiliation: Harvard T.H. Chan School of Public Health - Executive Education programs (teaching role in healthcare policy/investment context)
• Conference speaker: MedCity INVEST (discussed healthcare industry dynamics and capital deployment)
• Thought leadership contributions to healthcare value-based care and infrastructure discussions

Communication Style

Tone: Professional, pragmatic, visionary; balances business rigor with healthcare mission focus

Recurring themes: Value-based care infrastructure; healthcare system transformation; technology automation in healthcare operations; provider-payer alignment; real-world evidence and actuarial capabilities; sustainable healthcare innovation; entrepreneur support and scaling

Notable positions: Strong advocate for infrastructure-first approach to value-based care—Spadafore emphasizes that successful value-based transformation requires underlying technological and operational infrastructure (actuarial automation, real-world evidence systems) to enable providers and payers to reconcile risk-based contracts with performance insights. He views healthcare technology entrepreneurs as critical agents of system change, focusing on helping founders build scalable, sustainable solutions rather than unsustainable "growth-at-all-costs" models.

Mike Spadafore communicates with a focus on strategic clarity and practical business dynamics. His public statements about portfolio companies and investment theses emphasize what healthcare "desperately needs" to function effectively under value-based models—positioning himself as a pragmatic partner identifying and solving structural gaps. He uses language that bridges clinical/operational healthcare expertise with technology and financial sophistication, speaking credibly to both provider executives and venture investors. His communication favors substantive analysis of healthcare market challenges over promotional language; when endorsing companies, he articulates specific capabilities filled (e.g., "critical infrastructure that empowers payers and providers to reconcile their risk-based contracts with accelerated performance insights"). Spadafore appears to focus communication on building long-term sustainable models rather than short-term exits, reflecting Valtruis' explicit mission alignment approach to healthcare investment.

Notable Achievements

• Led investment strategy and portfolio development for Blue Venture Fund representing $850M+ assets under management across 30+ BCBS entities
• Founder and builder of Sandbox Advisors, establishing a successful healthcare transaction advisory practice
• Board member and advisor to multiple acquired healthcare technology companies (Wellframe, Physera, ID Experts acquisitions represent successful scaling and exit outcomes)
• Key leadership role in Valtruis investments in critical healthcare infrastructure: Atropos Health ($33M Series B for real-world evidence automation), Arbital Health (value-based risk contracting infrastructure)
• Established trusted advisor relationships across Blue Plans network and healthcare payer/provider ecosystem
• Harvard T.H. Chan School of Public Health faculty involvement in executive education (healthcare policy/investment expertise recognition)

Key Relationships

Board Memberships & Advisory Roles:

• Atropos Health (Board Member) — Real-world evidence and AI-powered clinical data automation
• Nest Health (Board) — Value-based primary care delivery
• Fort Health (Board) — Healthcare infrastructure
• First Dollar (Board) — Healthcare affordability solutions
• Smart Data Solutions (Board)
• Abacus Insights (Board) — Healthcare data analytics
• Workit Health (Board) — Addiction treatment and digital therapeutics
• WiderCircle (Board) — Community health and social determinants
• Prove (Board) — Identity verification
• Physera (Board, acquired by Omada Health)
• Wellframe (Board, acquired by HealthEdge)
• ID Experts (Board, acquired by ZFOX)
• Octave Biosciences (Board Observer)
• Emids (Board Observer) — Digital transformation services

Professional Network:

• Member of Valtruis portfolio company ecosystem and WCAS partnership network
• Connected across Blue Plans network (30+ BCBS entities through Blue Venture Fund experience)
• Harvard T.H. Chan School of Public Health faculty network
• PwC and consulting firm alumni network in healthcare strategy practice

Investment/Funding Relationships:

• Valtruis co-investor in healthcare transformation initiatives alongside McKesson Ventures, Merck GHI Fund, Cencora Ventures, and Blue Plan networks
• WCAS Operating Partner network and healthcare-focused investment syndicate